Millennium Management LLC Lowers Position in Fox Co. (NASDAQ:FOX)

Millennium Management LLC decreased its position in shares of Fox Co. (NASDAQ:FOX) by 8.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,430 shares of the company’s stock after selling 18,375 shares during the period. Millennium Management LLC’s holdings in FOX were worth $6,770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in FOX in the second quarter worth about $65,709,000. Independent Franchise Partners LLP raised its holdings in FOX by 14.5% in the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock worth $160,863,000 after acquiring an additional 636,247 shares during the last quarter. Regal Partners Ltd purchased a new position in FOX in the 2nd quarter worth approximately $16,398,000. Goldman Sachs Group Inc. raised its holdings in FOX by 93.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 945,930 shares of the company’s stock worth $26,155,000 after acquiring an additional 456,546 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in FOX by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock worth $74,483,000 after acquiring an additional 272,743 shares during the last quarter. 26.41% of the stock is owned by institutional investors.

Insider Activity at FOX

In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.21% of the stock is currently owned by corporate insiders.

FOX Stock Down 1.1 %

FOX opened at $38.05 on Friday. The firm has a 50-day simple moving average of $37.43 and a two-hundred day simple moving average of $33.25. Fox Co. has a 52 week low of $25.82 and a 52 week high of $39.15. The company has a market capitalization of $17.76 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.97 and a beta of 0.81. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the firm earned $0.88 EPS. Analysts forecast that Fox Co. will post 3.59 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This is a positive change from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.84%. FOX’s dividend payout ratio (DPR) is 16.93%.

Analyst Ratings Changes

Separately, Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional cable television systems, direct broadcast satellite operators, and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.